NEW YORK (
) -- Financial stocks experienced a down day for the most part, particularly those most exposed to investment banking operations after
reported disappointing third quarter results on weak trading results.
Jefferies fell 2.5% to $22.43, but investors extrapolated the news to other firms that will report third quarter earnings next month.
closed down 2.1% to $144.91 and
fell 2.1% to $39.10 on Thursday, among other firms.
shares dropped somewhat on Thursday as speculation continued that
threatened to leave the firm after being passed up for the chairmanship position. New reports Thursday say that
was in the lead to assume the chairman position.
HSBC apparently has a history of promoting its chief executives to chairman, but seemed to be leaning towards other front runners to replace Stephen Green, the current chairman. Green is leaving at the end of the year to become U.K.'s trade minister.
Economic data earlier in the day didn't help financial stocks. The Labor Department said initial weekly jobless claims rose more than expected.
slid between 2% and 3% on Thursday.
There were few bright spots for the day, but several regional banks ended the day in the black, including
PNC Financial Services
Other winners included electronic payment giants,
--Written by Laurie Kulikowski in New York.
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